SPPE.DE vs. CSPX.AS
SPPE.DE (SPDR S&P 500 UCITS ETF EUR Hedged Accumulating) and CSPX.AS (iShares Core S&P 500 UCITS ETF) are both S&P 500 funds - SPPE.DE tracks the S&P 500 EUR Dynamic Hedged Index while CSPX.AS tracks the S&P 500 Index. Both are passively managed. Over the past 5 years, SPPE.DE returned 10.69%/yr vs 14.23%/yr for CSPX.AS. Their correlation of 0.86 suggests significant overlap in exposure. SPPE.DE charges 0.12%/yr vs 0.07%/yr for CSPX.AS.
Performance
SPPE.DE vs. CSPX.AS - Performance Comparison
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Returns By Period
In the year-to-date period, SPPE.DE achieves a 7.12% return, which is significantly lower than CSPX.AS's 9.99% return.
SPPE.DE
- 1D
- 2.15%
- 1M
- 0.28%
- YTD
- 7.12%
- 6M
- 8.21%
- 1Y
- 21.53%
- 3Y*
- 18.29%
- 5Y*
- 10.69%
- 10Y*
- —
CSPX.AS
- 1D
- 1.55%
- 1M
- 1.57%
- YTD
- 9.99%
- 6M
- 11.11%
- 1Y
- 24.46%
- 3Y*
- 17.93%
- 5Y*
- 14.23%
- 10Y*
- 14.86%
SPPE.DE vs. CSPX.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPPE.DE SPDR S&P 500 UCITS ETF EUR Hedged Accumulating | 7.12% | 15.32% | 23.27% | 23.16% | -21.71% | 28.53% | 15.02% | 27.80% | -8.05% |
CSPX.AS iShares Core S&P 500 UCITS ETF | 9.99% | 4.00% | 33.87% | 22.28% | -14.24% | 40.26% | 7.72% | 32.99% | -5.94% |
Correlation
The correlation between SPPE.DE and CSPX.AS is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2018 | 0.86 |
The correlation between SPPE.DE and CSPX.AS has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.
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Return for Risk
SPPE.DE vs. CSPX.AS — Risk / Return Rank
SPPE.DE
CSPX.AS
SPPE.DE vs. CSPX.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 500 UCITS ETF EUR Hedged Accumulating (SPPE.DE) and iShares Core S&P 500 UCITS ETF (CSPX.AS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SPPE.DE | CSPX.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.39 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 3.40 | -0.93 |
| Martin ratioReturn relative to average drawdown | 10.29 | 12.02 | -1.73 |
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Drawdowns
SPPE.DE vs. CSPX.AS - Drawdown Comparison
The maximum SPPE.DE drawdown since its inception was -34.33%, roughly equal to the maximum CSPX.AS drawdown of -33.65%. Use the drawdown chart below to compare losses from any high point for SPPE.DE and CSPX.AS.
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Drawdown Indicators
| SPPE.DE | CSPX.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.33% | -33.65% | -0.68% |
Max Drawdown (1Y)Largest decline over 1 year | -8.68% | -7.11% | -1.57% |
Max Drawdown (3Y)Largest decline over 3 years | -18.40% | -23.37% | +4.97% |
Max Drawdown (5Y)Largest decline over 5 years | -26.10% | -23.37% | -2.73% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.65% | — |
Current DrawdownCurrent decline from peak | -2.33% | -1.76% | -0.57% |
Average DrawdownAverage peak-to-trough decline | -5.81% | -3.74% | -2.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 2.02% | +0.07% |
Volatility
SPPE.DE vs. CSPX.AS - Volatility Comparison
SPDR S&P 500 UCITS ETF EUR Hedged Accumulating (SPPE.DE) has a higher volatility of 3.87% compared to iShares Core S&P 500 UCITS ETF (CSPX.AS) at 3.07%. This indicates that SPPE.DE's price experiences larger fluctuations and is considered to be riskier than CSPX.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPPE.DE | CSPX.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 3.07% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 9.02% | 7.76% | +1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.05% | 11.53% | +0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.03% | 15.18% | +0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.66% | 16.07% | +1.59% |
SPPE.DE vs. CSPX.AS - Expense Ratio Comparison
SPPE.DE has a 0.12% expense ratio, which is higher than CSPX.AS's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPPE.DE vs. CSPX.AS - Dividend Comparison
Neither SPPE.DE nor CSPX.AS has paid dividends to shareholders.
Frequently Asked Questions
SPPE.DE and CSPX.AS have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSPX.AS is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSPX.AS is cheaper with a 0.07% expense ratio, compared with 0.12% for SPPE.DE.
SPPE.DE tracks S&P 500 EUR Dynamic Hedged Index, while CSPX.AS tracks S&P 500 Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for SPPE.DE and 0.07% for CSPX.AS.
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